Wanbao Mining’s Partnership With Managem S.A.

Clifford Chance has advised Wanbao Mining on the deal.

Wanbao Mining, a Chinese state-owned mining company, partnered with Managem S.A., an international diversified mining company based in Morocco to develop a large-scale gold mining project in the Republic of Sudan. Sudan is one of the largest gold producers in Africa.

The partnership will help expand the annual gold production capacity of the Gabgaba project from approximately 60,000 to 200,000 ounces, and the strategic development of new projects which will eventually be owned on a 50/50 basis between Wanbao Mining and Managem. The partnership was formed through Wanbao Mining’s acquisition of a 35% stake from Managem in two entities, which hold separate mining licenses for blocks within the mine. Concurrently, Wanbao Mining will sell a 35% stake in an entity holding mining licenses to other blocks to Managem.

The deal was led by China Co-Managing Partner Terence Foo (Picture), with a team in Beijing which included associate Yanding He and trainee Jiahong Cai, and a team in Sydney, including partner Nadia Kalic and senior associate Georgina Roest, who assisted on mining-related agreements.

Involved fees earner: Terence Foo – Clifford Chance; Yanding He – Clifford Chance; Nadia Kalic – Clifford Chance; Georgina Roest – Clifford Chance;

Law Firms: Clifford Chance;

Clients: Wanbao Mining;

Sonia Carcano

Author: Sonia Carcano